The Shareholders Foundation announced that an investor, who currently holds shares of Zygo Corporation (NASDAQ:ZIGO) filed a lawsuit in effort to halt the takeover of Zygo Corporation by AMETEK, Inc for $19.25 per share.
Investors who purchased shares of Zygo Corporation (NASDAQ:ZIGO) and currently hold any of those NASDAQ:ZIGO shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:ZIGO stockholders by agreeing to sell Zygo Corporation too cheaply via an unfair process to AMETEK, Inc.
On April 11, 2014, AMETEK, Inc. and Zygo Corporation announced that they have entered into a merger agreement under which AMETEK will acquire all of the outstanding shares of common stock of Zygo at a purchase price of $19.25 per share in cash.
However, the plaintiff claims that the $19.25-offer is too low and undervalues Zygo Corporation. Shares of Zygo Corporation (NASDAQ:ZIGO) grew from $3.40 per share in March 2009 to as high as $19.98 per share in May 2012.
In addition the plaintiff claims that the process is unfair to NASDAQ:ZIGO stockholders. Indeed,
MAK Capital One LLC, a financial investment advisory firm controlled by Michael A. Kaufman, the Chairman of the Board ofZygo, which beneficially owns approximately 23.6% of the outstanding shares of Zygo, as well as Mr. Willis, have already agreed to vote their shares of Zygo common stock in favor of the merger.
On May 2, 2014, NASDAQ:ZIGO shares closed at $19.17 per share.
Those who are current investors in Zygo Corporation (NASDAQ:ZIGO) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com